Far West

WASHINGTON — As lawmakers in the Senate and House begin to resolve the differences in their separate financial regulatory reform bills this week, market participants are hoping the finished product will exclude several controversial provisions they say could eliminate the municipal derivatives market.

Eleven Northeast states are asking the Federal Railroad Administration to cover $15 million of an $18.8 million study they hope will help improve and expand high-speed rail service in their corridor.

ALAMEDA, Calif. — The San Francisco Public Utilities Commission this week will bring its wastewater credit to the market for the first time in seven years.

WASHINGTON — Congressional committees have set a July 4 target date for the Federal Aviation Administration reauthorization bill to be signed into law, but lawmakers must clear a few obstacles including their differences over a bond-related provision before the legislation can be finalized.

WASHINGTON — The Municipal Securities Rulemaking Board yesterday filed a request with the Securities and Exchange Commission to allow it to post credit ratings directly on the board’s Electronic Municipal Market Access site.

ALAMEDA, Calif. — Washington plans to bring its largest-ever bond sale to market Tuesday, when it is scheduled to price $1.1 billion of motor vehicle fuel-tax general obligation bonds.

WASHINGTON — Leaders of the House and Senate tax-writing committees yesterday planned to unveil legislation that would temporarily extend the Build America Bond program as well as several other municipal bond provisions set to expire at the end of the year.

WASHINGTON — A fourth market participant, Mark Zaino, has pleaded guilty to participating in bid-rigging and fraud conspiracies in connection with municipal investment contracts and derivatives, the Justice Department announced yesterday.

Two bond-issuing authorities in Virginia entered into a voluntary closing agreement with the Internal Revenue Service to preserve the status of $74.3 million of bonds after one of them sold its waste-to-energy facilities, which were financed with the bonds, to Wheelabrator Portsmouth Inc.

The Securities and Exchange Commission plans to vote on proposed changes to its Rule 15c2-12 on disclosure at an open meeting Wednesday and also may direct staff to approve a related Municipal Securities Rulemaking Board proposal the same day.